Personal Wealth Partners bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 190 shares of the company’s stock, valued at approximately $52,000.
A number of other institutional investors also recently made changes to their positions in the business. Cornerstone Advisors Inc. boosted its holdings in IDEXX Laboratories by 100.0% in the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares in the last quarter. Monetary Management Group Inc. purchased a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $45,000. Arrow Financial Corp purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $78,000. Anderson Fisher LLC purchased a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $70,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of IDEXX Laboratories by 37.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 361 shares of the company’s stock valued at $81,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.
In related news, Director Rebecca M. Henderson sold 8,790 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $241.57, for a total value of $2,123,400.30. Following the completion of the sale, the director now directly owns 27,486 shares of the company’s stock, valued at approximately $6,639,793.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Lane sold 17,961 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $264.10, for a total transaction of $4,743,500.10. The disclosure for this sale can be found here. Insiders sold a total of 68,395 shares of company stock valued at $17,732,814 over the last three months. 2.70% of the stock is currently owned by insiders.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The company had revenue of $620.10 million during the quarter, compared to analyst estimates of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 4.86 EPS for the current year.
Several equities research analysts have recently commented on the stock. Bank of America set a $300.00 price target on shares of IDEXX Laboratories and gave the company a “buy” rating in a research report on Friday, June 21st. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target for the company in a research report on Friday, May 3rd. Guggenheim assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, May 23rd. They set a “buy” rating and a $276.00 price target for the company. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $281.00.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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